Spirit Airlines Q2 Loss Widens

(RTTNews) - Spirit Airlines, Inc. (SAVE) Thursday reported net loss of $192.93 million or $1.76 per share for the second quarter, wider than $2.35 million or $0.02 per share loss in the same quarter a year ago, primarily on lower revenue. Earnings as well as revenue missed the consensus estimates.

Excluding one-time items, the company posted loss of $157.94 million or $1.44 per share, that missed the analysts' average estimate of $1.36 loss per share. Analysts' estimates typically exclude special items.

Spirit Airlines posted an operating loss of $152.51 million compared with operating income of $20.21 million last year.

Revenue for the quarter declined to $1.281 billion from $1.432 billion in the previous year. The consensus estimate was for $1.29 billion.

Load factor was 83.2 percent, up from 82.9 percent last year.

Available seat miles or ASMs increased 1.7 percent to 14.146 billion from 13.908 billion a year ago.